MTCO Ltd. Increases Stock Position in Paramount Skydance Corporation $PSKY

MTCO Ltd. raised its stake in Paramount Skydance Corporation (NASDAQ:PSKY) by 133.3% during the first quarter, Holdings Channel reports. The fund owned 6,300,000 shares of the company’s stock after buying an additional 3,600,000 shares during the period. Paramount Skydance makes up approximately 21.1% of MTCO Ltd.’s portfolio, making the stock its 2nd largest position. MTCO Ltd.’s holdings in Paramount Skydance were worth $56,826,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new stake in shares of Paramount Skydance during the 3rd quarter worth approximately $25,000. Huntington National Bank lifted its stake in Paramount Skydance by 108.2% in the fourth quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after purchasing an additional 1,174 shares during the last quarter. Larson Financial Group LLC lifted its stake in Paramount Skydance by 539.3% in the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after purchasing an additional 1,936 shares during the last quarter. Kelleher Financial Advisors bought a new position in Paramount Skydance during the third quarter valued at $32,000. Finally, Golden State Wealth Management LLC grew its holdings in Paramount Skydance by 317.3% during the fourth quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company’s stock valued at $38,000 after purchasing an additional 2,177 shares during the period. 73.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Guggenheim lowered their target price on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. TD Cowen cut their price target on Paramount Skydance from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Bank of America decreased their price objective on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating for the company in a report on Tuesday, March 10th. Morgan Stanley upgraded Paramount Skydance from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Finally, Wells Fargo & Company dropped their price objective on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $12.77.

Paramount Skydance Stock Up 0.3%

PSKY opened at $9.75 on Thursday. Paramount Skydance Corporation has a 12 month low of $8.61 and a 12 month high of $20.86. The company has a market cap of $10.91 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 0.73 and a beta of 1.43. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average of $10.59 and a 200 day moving average of $11.16.

Paramount Skydance (NASDAQ:PSKY) last issued its earnings results on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. The business had revenue of $7.35 billion for the quarter. Paramount Skydance had a negative net margin of 2.08% and a positive return on equity of 4.58%. During the same period in the previous year, the firm earned $0.22 EPS. On average, sell-side analysts expect that Paramount Skydance Corporation will post 0.55 EPS for the current year.

Paramount Skydance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $0.05 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. Paramount Skydance’s payout ratio is 35.09%.

Paramount Skydance Company Profile

Paramount Skydance Media Group (Nasdaq: PSKY) is a media and entertainment company created through the proposed combination of Paramount Global’s filmed entertainment and streaming operations with Skydance Media, a privately held content studio. The combined business will encompass the development, production and distribution of feature films, television programming and digital content, drawing on a library of legacy Paramount Pictures franchises alongside Skydance’s blockbuster tentpoles and animation slate.